CORAL REEF MONTESSORI ACADEMY BOARD OF DIRECTORS MINUTES Saturday, September 28, 2013

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3 CORAL REEF MONTESSORI ACADEMY BOARD OF DIRECTORS MINUTES Saturday, September 28, 2013 IN ATTENDANCE: Mr. Hoel Ms. Canzoneri-Golden Mr. Carr Ms. Quinones Ms. King Ms. Simms-Watson Call to Order: Mr. Carr called the meeting to order at 10:25AM Minutes: Ms. Golden read the minutes. There were no corrections. Ms. Hoel moved that the minutes be approved as is, Ms. Quinones second. The motion passes unanimously. Construction Update: Mr. Carr requested that we change the agenda as to facilitate the time constraints of guest speakers. All members complied, Mr. Escobar, the architect reported that he was ill and therefore unable to communicate these past two or more weeks. He spoke about a phone conversation he had with Mr. Garcia, VP of Wells Fargo about his timeline and the estimated costs of the project. Mr. Escobar said his estimates were based on two different contractors who did not submit formal bids. One was for 1.3 million, the other 1.5 million. The bank feels the construction costs are too high and a discussion as to what could be done to lower the project to around 1 million occurred. Mr. Escobar thought anymore changes would delay the time. The Board recommended a conference call for Friday with the Co-Directors, Board Chair, Architect, Engineer and Zoning Attorneys. After Mr. Escobar left, there was discussion amongst the board that he was taking entirely too long and we needed to have an alternative plan, if he could not submit the plans in a timely manner. Teacher Waivers: Names of teachers and their respective waivers were passed out, including additional documentation such as course completion, and registration. Ms. Quinones moved that the waivers for the 7 staff be accepted including the 3 who were beyond the timeline. It was second by Ms. Watson, the motion was passed unanimously. SIP: Ms. King went thought the SIP and explained each section. She reported that the EESAC approved the SIP. It was moved by Ms. Hoel that the SIP be approved and second by Ms. Quinones. Motion passes unanimously. Budget: There was some discussion as to how much the Inc. donated to the Charter last year. Ms. Golden followed up with the CPA for clarification. It was moved by Ms. Quinones that the budget be accepted and second by Ms. Watson. The motion passed unanimously. Agreement: Ms. King passed out the agreement prepared by the attorney between Inc. and the Charter. It was suggested that a formal agreement be drawn up in the 2013 audit

4 report even though the preschool Inc. has been providing revenues since its inception in Board members had an opportunity to discuss and ask questions. Effective immediately the security will come out of the Inc. and will be reflected in next year s agreement. The agreement will be reviewed on a yearly basis. It was moved by Ms. Hoel that we approve the contract agreement, and it was second by Ms. Watson. The motion passed unanimously Financing Update: Wellsfargo will be meeting with the Co-Directors within the week to discuss options. In the meantime, Ms. Golden will contact Mercantile to see what they can offer. The Board does not want two loans. They want to refinance and do the construction loan all at once. Board Vacancy: Dr. Pittman passed away over the summer. It was moved by Ms. Quinones and second by Ms. Hoel that Dr. Pittman be removed from the active list of Board of Directors. Motion passed unanimously. Geraldine Townson had previously submitted a letter of resignation due to her relocation out of the area. It was moved by Ms. Hoel that she be remove from the Board of Directors and second by Ms. Quinones. The motion passed unanimously. It was moved by Ms. Hoel that the Board remains with five members and second by Ms. Quinones. The motion passed unanimously. Ms. Watson passed out a resume for a potential board member Ms. Wallace. All board members were given the opportunity to submit. The resume will remain in the school. Unfinished Business: Mr. Carr reported that the issue with the roof has still not been resolved and he is waiting on an estimate for the work. There was no other unfinished business. New Business: The next board meeting will be used to discuss the bylaws and come up with a way as to stagger the terms since there have been some inconsistencies with following the terms due to unforeseen circumstances. There was no more new business. The meeting was adjourned by Mr. Carr at 1:15PM Submitted by: Lucy Golden

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